Absolute NNN Ground Lease | Best-In-Class Tenant

$2,207,792

2244 Florida 16, St. Augustine, FL 32092

For Sale

Retail Restaurant

Active

Last Updated: 08/12/2021

Details:

Cap Rate: 3.85%

NOI: $85,000

Building Size: 4,992 sqft

Lot Area: 1.71 sqft

Lease Type: Absolute Net

Year Built: 2020

Lease Expire Year: 10/31/2035

Offered by

David Annett

Associate - Corporate Finance Group

Stan Johnson Company

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Highlights:

15-Year Absolute NNN Ground Lease with Attractive Rental Increases
Historic St. Augustine, FL Location
Income Tax-Free State
Prime Retail Corridor
Incredible Sales Growth
Best-In-Class Tenant

Description:

Stan Johnson Company (“SJC”) is pleased to offer the opportunity to acquire a brand-new Chick-fil-A ground lease located in St. Augustine, FL (the “Property”). The Property is situated in the retail corridor off of SR-16 (33,134 VPD) and Interstate 95 (61,294 VPD). It is located near both St. Augustine’s Indoor Mall and St. Augustine Premium Outlets with nationally recognized tenants, Old Navy, Saks Fifth Avenue, Nike Factory Store, Coach, and H&M to name a few. Today, some 2 million visitors travel to St. Augustine annually. The immediate area draws visitors from all over the region but also boasts strong immediate demographics as there are 31,783 people within three miles earning $66,151 in average household income.